Promote first generation entrepreneurs, Odisha CM urges banks

Odisha Sun Times Bureau:
Bhubaneswar, Jan 8:

Expressing concern over the poor coverage of credit to tentrepreneurs in Odisha, Chief Minister Naveen Patnaik today urged banks to proactively consider covering more and more first generation entrepreneurs under the credit guarantee scheme of the Centre to help them fulfill their dreams of setting up units.

While inaugurating MSME Trade Fair-2015 Patnaik said, “As on September 2014, only 6.7 percent of units ahve been covered under the credit guarantee scheme of Centre, which is dismally low.”

The state government is committed to providing various supports to the MSMEs of our state. It is also contemplating bringing out a procurement policy for MSEs of the state.  An initiative–MSME Bazar– has been taken up by MSME department to give exposure to the MSMEs of the state, where the local entrepreneurs can upload their product brochure, purchase procedure on a developed website. Odisha is one of the few states to have brought out a State Export Policy 2014 with the objective to boost export by 10 percent every year, the Chief Minister said.

Speaking on the occasion, Patnaik said, “I am happy to attend the trade fair organized by Micro Small and Medium Enterprises Department with active support from various stake holders. I complement the MSME Department for organising this fair with an objective of providing marketing support to the MSMEs of our state.”

Applauding the role of MSME, Patnaik pointed out that the MSME sector plays a pivotal role in the Indian economy in employment generation and economic empowerment of a vast section of the population.

As per the latest Census, there are about 1.5 million such enterprises providing employment to 3.3 million people in our state. Odisha is one among the top ten states in terms of providing employment in MSMEs. The growth rate of MSMEs in Odisha is 32 percent against the national average of 28 percent. The growth rate of employment has been 29 percent against the all India average is 26 percent.

“The department has expanded its objective to make the trade fair a one stop shop for all entrepreneurial activities with provision of buyer-seller meets, vendor development programs, seminars and workshops relating to promotion and development of MSMEs,” Patnaik added.

The Reserve Bank of India had constituted a working group to study the problems of Micro and Small Enterprises (MSE), particularly with respect to rehabilitation of potentially viable sick units.   It has given elaborate guidelines for rehabilitation of sick units. In view of this, all banks should follow the guidelines with all seriousness to create a win-win situation for them and the entrepreneurs, Patnaik urged.

Among others, ministers Jogendra Behera, Ashok Panda, MP Dr Prasanna Patsani, MLA Bijoy Mohanty, MLA Priyadarshi Mishra, Chief Secretary G C Pati, MSME Secretary Panchanan Das were present.